The deficit on each trade in a Vickrey double auction is at least as large as the Walrasian price gap

B-Tier
Journal: Journal of Mathematical Economics
Year: 2019
Volume: 84
Issue: C
Pages: 101-106

Score contribution per author:

1.005 = (α=2.01 / 2 authors) × 1.0x B-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

We prove that the deficit on each trade in a Vickrey double auction for a homogeneous good with multi-unit traders with multi-dimensional types is at least as large as the Walrasian price gap. We also show that as the number of traders grows large the aggregate deficit is bounded below by the ratio of the Walrasian price and the elasticity of excess supply at the Walrasian price.

Technical Details

RePEc Handle
repec:eee:mateco:v:84:y:2019:i:c:p:101-106
Journal Field
Theory
Author Count
2
Added to Database
2026-01-25